@MichaelAArouet Spot on - it is all about voting groups to preserve power not to do the best thing. The screeching U turn on to two child benefit cap ie removal was simply aimed at a single voting cohort.
@ColinBrazierTV You can only do this if you have access to everyone else’s money. Get the grifting side of the gravy train ensures someone else carries you .
@jsblokland@FT I think the 2% target is just a terror of deflation. The US remains scarred by the Great Depression. History explains a lot in these policies - the Bundesbank was always a monetary hawk - their fear Weimar
@RichardJMurphy This is abject nonsense. Bond yields do not have single mind. Like all financial assets they are a function of thousands, millions of investors opinion in a moment in time.The reason they move are small changes in opinion. Like an ant colony they have a collective powerful brain.
@RichardBentall@EuroBriefing You know these numbers are wrong - they would make no sense versus France or Germany. There is not consensus on this point particularly amongst economists. The doppelgänger from which the 8% is derived had a near 2/3rds weighting to the USA - which has beaten every major economy.